I just wanted to take an opportunity to vent. This issue concerns both property owners and Realtors. Particularly effecting anyone that will have property listed or featured on Har.com. I recently listed a lot in Galveston, Texas (16522 John Silver). We are members of the Galveston and Houston MLS. We have been for years. We advertise our Galveston, Texas listings using the Galveston and Houston MLS services. I have never listed a property where the owner was willing to finance the buyers purchase. This rarely is a possibility. I have had the pleasure of working with a gentleman who is willing to do so. He actually welcomes the idea of acting as the bank. He specifically instructed us to advertise this option in an effort to make the property available to many who cannot qualify for a loan. Just because you cannot qualify with the bank does not mean that you are a bad candidate for a purchase. Our MLS systems have a place for public and private agent to agent remarks. It makes sense to place his offer to owner finance in both areas of the MLS. We want the public and agents to know that this is an option. After all the buyer should be able to view that the seller is willing to owner finance yet the Houston Association of Realtors has sent us a violation for advertising his wishes. The board of Realtors in Houston voted on this issue stating that any financial information cannot be viewed by the public under the property remarks. It should only be viewed agent to agent. What about the buyer who is not yet working with an agent? How will they know exactly what the seller wants them to understand when considering his property? I was very perplexed by the violation. It just seemed silly to me not to respect the sellers instructions yet my hands are tied. The listing will be kicked off MLS if we don't not comply. We are only allowed to check a tiny box that states the seller will owner finance. I don't feel this is not emphasizing his wish to publicize this factor. The remarks written by an agent are one key factor when selling a property. They need to state exactly what they buyer needs to know. Listing always featured taxes, size, etc. The buyer almost always calls to ask the agent these questions. This information is available to them yet they often miss it since it is not in the remarks. You have to know where to look. If the seller has a stand out feature then you must highlight it under the public comments. Don't bury a wonderful option by checking some tiny box.
I understand that all MLS boards must make rules. Rules are in place for very specific reasons. I do feel this rule is a bit political. These rules are made by agents to protect out field. I feel the wishes of the owner should come FIRST. This was an issue where no true violation occurred. The true crime is the limitation that HAR is putting on his property. If he chooses to have this factor highlighted when selling his lot then it should be his right to do so. After all HAR would not have property to advertise without area property owners allowing them to do so. The customer is always right. This is my rant for the day. Excuse me for having to vocalize how I feel when it comes to this restriction. Thankfully the owner is a really laid back and understands that my hands are tied. Often property owners do not want to hear why you cannot do something. They just want it done and in some cases, like this one, rightfully so.
Realtor and public opinion welcome. Let me know what you think. How can we solve problems like this?
Have a great week.
Christina Stevens